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Yet the US expends huge amounts of its resources just to m

 maintain its monetary hegemony and thus ensure its financial sector offers higher pay and retur

n on investment compared with the real economy sectors, which helps it to maintain its advantage in at

tracting talents and capital. This in turn prompts the authorities to introduce more favorable policies and regulations for

the enterprises based in the US, which is essentially a combination of representative democracy and market eco

nomy. Under such circumstances, how can the US promote sustainable reindustrialization?

Besides, reindustrialization is not possible without rebuilding or strengthening infrastructure facilities. And

although the US leader has been claiming to implement a trillion-dollar infrastructure plan-and even made it on

e of the pillars of his “Make America Great Again” campaign-not much has come of it.

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Govt should accelerate tax cuts to invigorate economy, premi

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Premier Li Keqiang urged government departments to speed up the implementation

of tax reductions to invigorate the country’s economy, amid rising uncertainties about growth on Friday.

Li was speaking with entrepreneurs from the manufacturi

ng, construction and service sectors at the Zhongnanhai leadership compound in Beijing.

The businesspeople said they have received benefits from the tax reduction measu

res in the past months, after the measures were introduced by Li in the Government Work Report in March. They

also offered advice on how to further ease the tax burden on businesses.

After hearing their opinions, Li called tax reduction a great decision made by the Communist Party of China Central Comm

ittee and the State Council. It has boosted market confidence in outstanding ways and promoted the stable

growth of the economy, he said, adding that the positive factors for economic growth are increasing.

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Efforts should be made to give people a more solid and

sustained sense of security, Xi said.Beijing blasts US Congress for Taiwan defense bill

Xi called for reforms in public security work and said big data should be used as a major engine to promote innovation in the sector. More

measures for higher-quality services should be implemented to give the public a substantial sense of fulfillment, he added.

While demanding that high discipline be exercised within the public security forc

es, Xi said there will be zero tolerance for violations of laws and Party discipline.

He also urged Party committees at all levels to suppo

Beijing resolutely opposes the United States House of Representatives for passing a bill on Tues

day to bolster Taiwan’s defense capability, calling it “boorish interference” in China’s domestic affairs.

Foreign Ministry spokesman Geng Shuang made the comment on Wedn

esday after the House voted to pass a nonbinding resolution reaffirming the US commitment to Taiwan. It also backed the

so­-called Taiwan Assurance Act of 2019, which supports Taiwan increasing its defense spending.

rt public security staff in exercising power and fulfilling their responsibilities in accordance with the law.

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Xi congratulates Thai king on coronationorn is crowned

Chinese President Xi Jinping congratulated Thai King

Maha Vajiralongkorn on being crowned officially on Saturday.

On behalf of the Chinese government and people, and in his own name, Xi express

ed in a message sincere congratulations and good wishes to the king and the Thai people.

The king is an old friend of the Chinese people and has been attending to and supp

orting the cause of friendship between the two countries for long, Xi said in the message.

“I attach great importance to the development of China-Thailand rel

ations and stand ready to make joint efforts with you to carry forward the traditional C

hina-Thailand friendship, deepen cooperation in building the Belt and Road jointly, and push forward the comp

rehensive strategic cooperative partnership between the two countries to make bigger headway,” Xi said.

The Chinese president wished the Kingdom of Thailand flourishing and prosperity, and the people happiness and good health.

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ommunication key to shared future for mankind

China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the For

eign Investment Law in March and further facilitating trade connectivity under the Belt and Road Initiative. It will con

tinue opening its market in a proactive, steady and orderly manner, in accordance with its own development need

s and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pr

ofessor of international trade at the University of International Business and Economics in Beijing.

James Collins, CEO of Corteva Agriscience, the agricultural division of US-

based DowDuPont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the r

est of the world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.

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The two countries should take the opportunity to join

intly build the Belt and Road, deepen mutual political trust and pragmatic cooperation and pr

omote the development of the China-Chile comprehensive strategic partnership to a higher level, Xi said.

The two countries should promote the upgrading of bilateral tra

de and investment and enhance cooperation in such areas as minerals, clean energy, infor

mation technology, e-commerce, innovation and scientific research on the Antarctic, he said.

Xi called on the two countries to make joint efforts to celebrate the 50th anni

versary of China-Chile diplomatic ties next year and promote people-to-people exchanges.

China supports Chile’s hosting of the United Nations climate change confere

nce and the Asia-Pacific Economic Cooperation economic leaders’ meeting this year, Xi said.

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The draft amendment to the patent law has been sub

The government has started formulating matching regulations and rules to support implementation of the Foreign Invest

ment Law, adopted two weeks ago, Li said, adding that supporting regulations will take effect along with the law on Jan 1.

The draft amendment to the patent law has been submitted to China’s top legisl

ators. It sharply increases compensation for infringement to a cost that violators will not be able to afford, he said.

Forced technology transfers are prohibited and violators will receive harsh penalties, Li said. The complaint mecha

nism for foreign-invested companies will be perfected to improve exchanges and coordination between the gover

nment and investors, making it an effective way to protect the legal rights of foreign companies, he said.

China will not resort to massive economic stimulus to boost

growth, but will continue to open up and innovate to energize market players, Li said.

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This year marks the 55th anniversary of China-France

diplomatic ties. During their meetings, Xi agreed with French President Emmanuel Macron and Prime Minister Edouard Philippe to f

orge a more solid, stable and vibrant China-France comprehensive strategic partnership, and continue to explore the way for major countries to get al

ong with each other, which should feature independence, mutual understanding, foresight, mutual benefit and win-win outcomes, Wang said.

In the joint statement issued by China and France on jointly safeguarding multilateralism and improving global governa

nce, the two sides pledged to build international relations of mutual respect, equality, justice, and win-win coop

eration on the basis of respecting international laws and the basic principles of international norms, Wang said.

Speaking of Xi’s visit to Monaco, Wang said leaders of the two cou

ntries have agreed to firmly stick to the correct direction of bilateral relations, adhere to open

ness and cooperation, and pursue more win-win results so as to jointly elevate the China-Monaco relations into a new era.

During Xi’s talks with Prince Albert II, head of state of the Prin

cipality of Monaco, the Chinese president said both sides should adhere to openness and cooperation a

nd pursue more win-win results, adding that China welcomes Monaco to actively participate in the joint development of the Belt and Road.

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Three government ministers quit their posts so they could

back the motion. Richard Harrington, who resigned as a junior business minister, accused the government of “playing roulette with the lives and liveli

hoods of the vast majority of people in this country” by failing to resolve Britain’s Brexit impasse.

The government said it was disappointed by the vote, claiming it “upends the balance

between our democratic institutions and sets a dangerous, unpredictable precedent for the future.”

But it also conceded that the new votes might be a way to break the months-long Brexit gridlock. May said she would “engage

constructively” with the results of the process, though sahe said she was skeptical that it would produce a decisive result.

The move raises the chances that Britain will tack toward a softer Brexit, and is likely to be welcomed by th

e EU. Guy Verhofstadt, the European Parliament’s Brexit coordinator, tweet that it was an “opportunity to build a cross-party coope

ration leading to an enhanced political declaration & a closer future relationship!”Earlier in the day, May ack

nowledged, “with great regret,” that her deal still lacked “sufficient support” to be approved as of Monday.

qianhuain.com

effort in loss to Thailand sparks plenty of reaction from frustra

Winning the opening match of the China Cup proved to be a mission impossible for the ho

st national team, which fell 1-0 to Thailand on Thursday night in Nanning, Guangxi Zhuang autonomous region.

While spectators at the sold-out 60,000-seat Guangxi Sports Center loudly vented their anger a

s the home squad left the pitch, within minutes hundreds of millions of netizens expressed their dis

appointment online, making the loss one of the hottest topics trending on Chinese social media.

By Friday morning, related topics had been viewed more than 10

0 million times on Weibo, generating waves of criticism from fans and media.

“Team China was suppressed by the Thailand squad throughou

t the whole match,” said Han Qiaosheng, a well-known sports commentator and TV anchor.

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